Rockhaven Discovers New Epithermal Vein Complex at its Klaza Gold-Silver Project, Yukon
Rockhaven Resources Ltd. (TSX-V:RK) (“Rockhaven”) is pleased to announce the discovery of a new vein complex at its 100%-owned and road accessible Klaza property, located in the Dawson Range Gold Belt of southern Yukon.The discovery was made through reconnaissance drilling at the Rusk Target, a 2.6 sq km multi-element soil geochemical anomaly located three kilometres south of Rockhaven’s Klaza Deposit.An updated PEA completed on the Klaza Deposit outlined robust economics at US$1450/oz gold and US$17/oz silver (see Rockhaven Press Release dated July 13, 2020).
“The discovery of an entirely new vein system in a previously undrilled area is a game-changer and demonstrates the exceptional exploration potential at Klaza,” stated Matt Turner, Rockhaven’s President and CEO.”Systematic drilling of the relatively close-spaced Rusk veins should rapidly build on the known gold and silver resources already established on the property.”
Assay highlights from separate veins include:
- 16.35 g/t gold, 321 g/t silver, 1.98% lead and 1.01% zinc over 0.63 m
- 16.15 g/t gold, 581 g/t silver, 2.06% lead and 1.26% zinc over 0.50 m
- 2.10 g/t gold, 657 g/t silver, 12.98% lead and 6.17% zinc over 1.00 m
- 2.05 g/t gold, 129 g/t silver, 2.29% lead and 4.67% zinc over 5.65 m
- 4.43 g/t gold, 1230 g/t silver, 0.51% lead and 0.41% zinc over 0.70 m
- 1.42 g/t gold, 30.7 g/t silver, 0.48% lead and 0.60% zinc over 9.80 m
- 7.08 g/t gold, 884 g/t silver, 5.37% lead and 5.79% zinc over 0.50 m
Rusk Target
A fence of ten drill holes was completed at the Rusk Target with eight of the ten holes reaching target depth. The Rusk Target is located 3 km south of the Klaza Deposit and hosts a 2.6 sq km, highly elevated arsenic-in-soil anomaly that is transected by linear magnetic lows and VLF-EM conductors, similar to those marking the main mineralized zones that comprise the Klaza Deposit.Additionally, this target is adjacent to the largest placer gold mine in the Mount Nansen Gold Camp. The fence was designed to assess the potential for this area which had previously never been drill tested.
Mineralized vein zones intersected at the Rusk Target consist of galena, sphalerite, pyrite and arsenopyrite hosted in a quartz-carbonate gangue.All veins are open for expansion in both directions vertically and along their projected trends.Detailed maps showing the drill hole locations and select core photos pertaining to this release can be viewed on the Rockhaven website at www.rockhavenresources.com.
Significant assays from the drill fence that tested the Rusk Target are shown in the following table.
KL-20-469 was terminated early due to poor ground conditions.
KL-20-472 did not return significant assay results.
KL-20-474 was lost in overburden.
Next Steps for Rusk
Based on the new discoveries made during the first phase of drilling at Rusk, planning is currently underway for additional drilling at this target in 2021. Systematic exploration will primarily focus on expanding the highest grade zones, specifically those cut by holes KL-20-469, -470, -471 and -473. This area is covered by only a thin layer of overburden, which will aid in both drill efficiencies and permit the use of excavator trenching, an exploration tool that was very effective in the expansion of the nearby Klaza Deposit. Additionally, preliminary metallurgical test work will be started immediately on the Rusk mineralization using coarse reject samples from the 2020 drilling. These tests will begin to evaluate whether the Rusk mineralization can be processed using the flow sheet developed for the Klaza Deposit.
2020 Drill Program
The 2020 exploration program consisted of two skid-mounted drill rigs that completed a total of 6,042 m of diamond drilling in 22 holes. The drill program focused on the evaluation of targets that lie outside of the Klaza Deposit. Access upgrades and permitting studies were also completed in preparation for advancing Klaza towards pre-feasibility in 2021.
Additional results from the remaining twelve drill holes completed during the 2020 exploration program will be released once assays have been received, compiled and evaluated.
QA/QC
All analyses for rock and core samples from the 2020 program were performed by ALS Minerals with sample preparation in Whitehorse and assays and geochemical analyses in North Vancouver. Core samples were routinely analyzed for gold by fire assay followed by atomic absorption (Au-AA24) and 48 other elements by inductively coupled plasma-mass spectrometry (ME-MS61). Samples that exceeded the detection limits of the routine methods were assayed for silver, copper, lead and zinc by inductively coupled plasma-atomic emission spectroscopy (Ag/Cu/Pb/Zn – OG62) and gold by gravimetric analysis (Au-GRA22). Rigorous procedures were in place regarding sample collection, chain of custody and data entry. Certified assay standards, coarse reject duplicates, field duplicates and blanks were routinely inserted into the sample stream to ensure integrity of the assay process. All of the results reported have passed the QA/QC screening.
Qualified Persons
Technical information in this news release has been approved by Matthew R. Dumala, P.Eng., a geological engineer with Archer, Cathro & Associates (1981) Limited and qualified person for the purpose of National Instrument 43-101.
About Rockhaven
Rockhaven Resources Ltd. is a well-funded explorer focused on the exploration and development of its 100%-owned, camp-scale Klaza Property, which hosts the Klaza Deposit and numerous lightly explored exploration targets. The Klaza Deposit has indicated resources of 4.5 Mt containing 686,000 oz gold and 14,071,000 oz silver at grades of 4.8 g/t gold and 98 g/t silver, and inferred resources of 5.7 Mt containing 507,000 oz gold and 13,901,000 oz silver at grades of 2.8 g/t gold and 76 g/t silver. An updated Preliminary Economic Assessment of the Klaza Deposit returned a Post-Tax NPV(5%) of CAD$378 million and an IRR of 37%, using US$1450/oz gold and US$17/oz silver (see Klaza Property Technical Report with an effective date of July 10, 2020 and titled, “Technical Report and Preliminary Economic Assessment Update for the Klaza Property, Yukon, Canada.” which can be viewed at www.sedar.com under the Rockhaven profile or on the Rockhaven website at www.rockhavenresources.com.).
Matthew Turner
President, CEO and Director
Rockhaven Resources Ltd.
T:604-687-2522
mturner@rockhavenresources.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results.